Many tech cos are in SF against their wills because they feel they must in order to recruit talent. If they allow remote work, they can hire people in SF without having to put the company there.
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People think of remote work as a way to work for tech cos without having to live in SF. But maybe it's the way the tech cos themselves can escape SF.
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This doesn't need to mean leaving Silicon Valley. SV is a lot more than just SF.
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I believe there is a SF burnout syndrome ready to be exploded.
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Finally covid gives a fair shot at death of distance. No more half-hearted telework.
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There are other aspects to SF like easy access to VCs, close-knit cluster of talented workers, can-do S.V Zeitgeist. I wonder how the incentives will work if tech cos go remote-first.
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Remote VCs may become a thing.
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There is a lot of underutilized tech talent globally that doesn't want to live in SF. Expanding their hiring range can only help tech companies. As a bonus salaries in almost the entire world are lower. Tech cos can pay 150% of local wages in most places and still come out ahead.
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This will cause massive gentrification and widen income inequality in some areas though. It already has in some eastern European cities with large remote tech presence like Bucharest and Prague.
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People regularly spending time in the same room still makes for the most efficient teams. The time cost of scheduling meetings and the lack of the team building social interactions has a real toll. But, the cost advantage may offset all that.
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> People regularly spending time in the same room still makes for the most efficient teams. Likely* only because it's currently the norm and therefore it's optimised. When the norm changes so will the things we optimise for - you can already see it happening.
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